Key Features & Benefits of ₹7 Lakh Personal Loan
Low EMI’s
Enjoy lower EMIs with interest charged on the reducing balance method. As opposed to a Flat rate of interest, reducing balance ensures the EMI amount remains low.
Quick Disbursal
Enjoy the convenience of fast processing and quick approval, with funds directly credited to your bank account.
Flexible Loan Amount and Tenure
Choose a loan amount and repayment tenure that best fit your needs and financial capabilities.
Personal Loan Assistant
Please write to your loan assistant at makeiteasy@finnable.com for any support. We aim to provide you with a seamless and hassle-free experience.
Documents Required for ₹7 Lakh Personal Loan
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Identity Proof – Aadhaar Card / PAN Card / Passport / Voter ID
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Address Proof – Utility Bill / Rental Agreement / Aadhaar Card
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Income Proof – Salary Slips (Last 3 months) / Bank Statements (Last 6 months)
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Employment Proof – Offer Letter / Employment ID Card
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Passport-size Photographs - A clear and high-quality passport-size picture
Interest Rate & Charges to Apply for ₹7 Lakh Personal Loan
While borrowing a ₹7 lakh personal loan, it’s important to understand the associated interest rates and charges:
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Interest Rate: Starts from 16%-35.99% per annum (varies by credit score )
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Processing Fee: 4% to 5% of the loan amount
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Prepayment Charges: 3% – 6% of the outstanding loan amount + 18% GST on the remaining principal amount (allowed after 6 EMI payments)
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Late Payment Penalty: Additional interest charges applied for delayed EMIs
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Loan Cancellation: There are no additional fees. Processing fees will be retained. The accrued interest for the space between the loan distribution and cancellation is payable.
Why Choose Finnable for Your ₹7 Lakh Personal Loan?
- Quick Online Approval – Apply from the comfort of your home
- High Loan Amounts – Get up to ₹7 lakh with ease
- Flexible Repayment Plans – Choose tenure from 12 to 60 months
- Zero Collateral Required – 100% unsecured personal loan
- Trusted Digital Platform – Secure and transparent process
Who Can Apply for a ₹7 Lakh Personal Loan?
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Salaried Professionals: Employees of private or government organizations
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Self-Employed Individuals: Business owners, freelancers, or consultants
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Age Criteria: 21 – 55 years
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Minimum Monthly Income: ₹15,000
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Employment Stability: At least 6 months with the current employer
Secure & Confidential Process
Your privacy and security are of utmost importance to us. Finnable employs 256-bit SSL encryption to ensure that all your personal and financial information remains protected throughout the loan application and disbursal process.
Why Finnable Stands Out?
- Trusted by thousands of satisfied customers across India
- Transparent pricing with no hidden fees
- Quick and hassle-free application process
- 24/7 customer support for all your queries
- User-friendly online portal for loan tracking and EMI payments
How to Apply for a ₹7 Lakh Personal Loan with Finnable?
Getting a personal loan through Finnable is straightforward and efficient. Here’s how it works:
Setup Profile
Sign up with your name, email, and mobile number. Verify your mobile number with an OTP and fill in your address and job details.
Choose Your Loan
Pick the loan amount you need, select the product, and choose a repayment period that suits you.
Upload Documents
Upload your ID proof, income proof, and address proof. Make sure the documents are clear, then submit them for verification.
EMI Options for ₹7 Lakh Personal Loan
Considering a loan amount of ₹7,00,000 with an approximate interest rate of 16%. The values are as follows
|
Loan Tenure |
Monthly EMI (₹) |
Total Interest (₹) |
Total Amount Payable (₹) |
|
12 months |
₹63,512 |
₹62,139 |
₹7,62,139 |
|
24 months |
₹34,274 |
₹1,22,580 |
₹8,22,580 |
|
36 months |
₹24,610 |
₹1,85,957 |
₹8,85,957 |
|
48 months |
₹19,838 |
₹2,52,233 |
₹9,52,233 |
|
60 months |
₹17,023 |
₹3,21,358 |
₹10,21,358 |
Factors Affecting Your EMI:
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Interest Rate – Higher interest rates increase your EMI.
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Loan Tenure – A longer tenure reduces your EMI but increases total interest.
How to Check Eligibility for ₹7 Lakh Personal Loan?
Steps to Check Your Eligibility:
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Visit the Finnable Website/App – Go to the Finnable website or app.
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Use the Eligibility Calculator – Enter details like income, employment, and loan amount.
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Get Instant Results – See if you qualify and check estimated EMI.
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Apply Online – If eligible, proceed with your application for a quick approval.
Uses of a ₹7 Lakh Personal Loan
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Medical Emergencies – Cover unexpected hospital bills
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Home Renovation – Upgrade or furnish your home
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Debt Consolidation – Merge multiple debts into one easy payment
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Wedding Expenses – Fund a dream wedding
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Education Fees – Support higher education costs
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Business Investment – Expand or start a business
Apply Now and Get ₹7 Lakh in Your Account Today!
With Finnable, securing a ₹7 lakh personal loan is just a few clicks away. There’s no need for lengthy paperwork, endless waiting, or multiple visits to the bank.
Ready to Get Started?
Click on Apply Now to begin your application today.
